Is it in your best interest to sign up for an umbrella insurance policy? There are some considerations to keep in mind. Before you do so, you’ll want to talk to an agent at a reputable insurance firm like Oliver Insurance of the greater Canby, OR area.
Advantages of an Umbrella Policy
First of all, it’s crucial you know the meaning of "umbrella policy". Umbrella insurance is meant to protect you upon getting sued for an incident that has injured someone else, whether that means in your home, car, or otherwise as a result of something you’ve done. If someone is at a party at your house and falls on your stairs, they might request you pay their medical bills. This type of policy will ensure that they will be compensated for their pain and suffering.
Umbrella insurance is a secondary policy after your homeowners, renters, or auto insurance policy. If you have a case against you and lose, it can pay for your legal expenses, including your lawyer’s fees. The umbrella policy only will kick in if absolutely necessary.
Who Should Get an Umbrella Policy
It really doesn’t make much sense for you to get umbrella insurance coverage if you don’t own a home, vehicle, or have any dangerous equipment on your property on which a guest could become injured. If you have a dog or another pet that could injure someone, it’s probably a good idea to sign up for it. Though most people should at least consider an umbrella policy, you would do well to get a professional opinion from Oliver Insurance as soon as possible. An agent can assess your unique situation and see how much coverage would be right for your needs.
